![]() This has imposed an unnecessary additional average cost of 6.8% onto people’s electricity bills in 2020, or between $800 to $1200 per energy customer over the eight-year period, depending on the state they live in, with no additional reliability benefits because the supernormal profits are after all network reinvestment. Of the 18 NSPs analysed, 14 extracted profit above IEEFA’s expected profit multiple range. ‘Poles and wires’ distribution and transmission network service businesses, including the likes of United Energy, Endeavour, SA Power Networks and AusNet, have consistently been charging electricity consumers too much – around 11% more than total costs. The report, Regulated Electricity Network Prices Are Higher than Necessary, found the actual profit that energy network providers received from electricity consumers over 2014 to 2021 was 67% higher than the normal level of profit. ![]() ![]() 5 October 2022 (IEEFA Australia): Electricity consumers have paid substantially higher bills than necessary for ‘poles and wires’, providing a hefty $10 billion in supernormal profits for energy network providers in the eastern states of Australia over an eight-year period due to flaws in network regulation, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |